With the unemployment rate at approximately 4%, the lowest since 2000, economists have been surprised by the slow growth in paychecks. Historically, when that few people are unemployed, companies have had to pay up to attract workers.

Clearly, anecdotal evidence and government reports suggest that the [...]

We have previously commented on the issue of lackluster U.S. economic growth. (See our blog from July 12.) Among the possible causative factors, relatively modest gains for real wages has been highlighted by many economists.

We have seen unemployment steadily decline to near record lows. At the [...]